TORONTO, ON / ACCESSWIRE / October 12, 2021 / AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB), a company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce that its majority-owned subsidiary, AI Rx Inc, is preparing for deployment of the Tech2Heal portfolio of products into the US marketplace. Tech2Heal is AIML's minority-owned subsidiary with a basket of wellness and health-tech products and services designed to improve an individual's mental health and well-being by utilizing a unique blend of proprietary digital assets, remote live counselling, and a physical wellness center. Tech2Heal's premier product, Qookka Live, provides mental and emotional health preventive and support services to corporations and health insurers from within one cohesive app.
In order to effectively enter the US market, AIML and AI Rx have retained the services of Oxygen Enterprises Inc. for a 12-month period, who is tasked with developing a cohesive and sustainable market penetration strategy for AI Rx which is focused on the digital behavioral health landscape. Additionally, Oxygen Enterprises will assist in: identifying and facilitating business acquisition/alliance opportunities for AIML that specifically identify disruptive technologies in the artificial intelligence and machine learning sector directly impacting cultural change and the empowerment of consumers relating to the mental health sector; facilitating introductions to key industry players; sourcing and vetting potential key management; evaluating regulatory requirements for product/services deployment by region, and more.
In consideration for the above noted services, AIML has agreed to pay CDN $80,000 (for the 12-month term), 100,000 AIML shares (subject to a hold period), and 100,000 AIML stock options with an exercise price of $0.80 per share and 2-year expiration, in accordance with the Corporation's Stock Option Plan.
https://www.accesswire.com/667652/AIML-Innovations-AI-Rx-Preparing-for-Imminent-Launch-into-US-Market